Vietnam records $2bn trade surplus in October

Vietnam reported a trade surplus of US$2 billion in October, narrowing from the previous month as imports grew at a faster rate than exports, government data showed on Wednesday.

The Southeast Asian country, a regional manufacturing hub, relies heavily on exports for its economic growth.

Shipments abroad rose 10.1 percent in October from a year earlier, the General Statistics Office said, while imports increased by 13.6 percent.

For the January-October period, exports rose 14.9 percent from a year earlier to $335.586 billion, while imports were up 16.8 percent to $312.28 billion, the GSO said.

Industrial production rose by 7.0 percent in October from a year earlier, slower than 10.8 percent growth in September.

Last month, Prime Minister Pham Minh Chinh said the government wanted to drive economic growth above an expected rate of 6.8-7.0 percent this year.

In the September quarter, annual growth hit a two-year high of 7.4 percent.

The consumer price index rose 2.89 percent in October from a year earlier, below the government's cap for 2024.